abrdn plc Has $26.10 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

abrdn plc increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 87,803 shares of the construction company’s stock after purchasing an additional 2,080 shares during the period. abrdn plc owned approximately 0.06% of Quanta Services worth $26,103,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services in the first quarter worth $25,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services in the second quarter valued at about $33,000. Finally, Quest Partners LLC acquired a new stake in Quanta Services during the second quarter worth about $35,000. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PWR. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Finally, TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.07.

Quanta Services Price Performance

Shares of PWR stock opened at $301.63 on Friday. The stock’s fifty day moving average is $289.12 and its 200-day moving average is $272.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The stock has a market capitalization of $44.44 billion, a PE ratio of 57.10 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.79%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.